In the Portfolio Matrix,characteristics of Goods and Services in the Leverage

question 6

Multiple Choice

In the portfolio matrix,characteristics of goods and services in the leverage quadrant are:

• A)few suppliers with adequate capability so substitution and switching are difficult.
• B)item substitution is possible,switching is difficult,many suppliers are available.
• C)item substitution and supplier switching are possible,but few suppliers are capable.
• D)competitive supply market,substitution is possible,total cost is a primary focus.
• E)competitive supply market,substitution is possible,price per unit is important.

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Definitions:

Institutional Markets

Markets where transactions occur between institutions such as businesses, governments, and non-profits, rather than between a business and individual consumer.

Finished Goods

Products that have completed the manufacturing process and are ready to be sold to customers.

Consumer Buying Process

The stages a consumer goes through when deciding to purchase a product, typically including need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.

Situational Influences

Factors present in a specific situation that can affect consumers' purchasing behavior, including physical environment, social environment, and time.